VIETNAM’S FURNITURE EXPORT IS LOOKING FORWARD TO THE BRIGHT ACHIEVABLE TARGET
VIETNAM’S FURNITURE EXPORT IS LOOKING FORWARD TO THE BRIGHT ACHIEVABLE TARGET
Furniture exporters received good news with some orders returned from the USA, Australia, S.Korea, and India after 7 months declined. From the Department of Forestry (Ministry of Agriculture and Rural Development), the export value of wood products in the first 6 months of 2023 Vietnam is estimated at 6.42 billion USD, down nearly 29% compared to the same period in 2022.
We all expected that after the Covid pandemic, global trade would be bound back firmly. Still, unfortunately, the war between Russia and Ukraine has declined the worldwide economy. People tend to save their expenses as scaring of recession, regardless of their demands are still high.
Vietnam’s 5 wood export markets are the US, Europe, Japan, and many others. Fortunately, there are positive signals for output growth and many new trends and requirements from these markets. Moreover, there are opportunities to supply products to some Middle Eastern countries.
We, Voltrans Logistics, have communicated with some clients and got their optimistic reply that the furniture export may reach the milestone of 14 billion USD by this year when they start receiving orders back. We hope that this figure will come true.
By Thomas
Voltrans Logistics – Your Ware Our Care